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The Panic of 1893 was an economic depression in the United States. It began in February 1893 and officially ended eight months later, but the effects from it continued to be felt until 1897. [ 1 ] It was the most serious economic depression in history until the Great Depression of the 1930s.
The Panic of 1893 was a severe nationwide depression that brought the money issue to the fore. The silverites argued that using silver would inflate the money supply and mean more cash for everyone, which they equated with prosperity.
The first issue amounted to 242 million dollars. This paper money would supposedly be redeemed for state taxes, but the holders were eventually paid off in 1791 at the rate of one cent on the dollar. By 1780, the paper money was "not worth a Continental", as people said, and a second issue of new currency was attempted.
Protection keeps money, markets, and manufactures at home for the benefit of our own people. Democrats campaigned energetically against the high McKinley tariff of 1890, and scored sweeping gains that year; they restored Cleveland to the White House in 1892. The severe depression that started in 1893 ripped apart the Democratic party.
Today, U.S. laws and regulations bar kids under the age of 14 from working in most industries. Children under 17 may not work more than three hours on school days, for example.Ever wonder where ...
Like the Long Depression that preceded it, the recession of 1882–1885 was more of a price depression than a production depression. From 1879 to 1882, there had been a boom in railroad construction which came to an end, resulting in a decline in both railroad construction and in related industries, particularly iron and steel. [25]
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The history of slavery spans many cultures, nationalities, and religions from ancient times to the present day. Likewise, its victims have come from many different ethnicities and religious groups. The social, economic, and legal positions of slaves have differed vastly in different systems of slavery in different times and places. [1]